Even asTesla, Inc.(NASDAQ:TSLA) shares took a beating from confirmation regarding a round of massive layoffs, including those of high-profile executives, a new report said on Monday the electric- vehicle maker has in fact put on hold the development of its low-cost vehicle.
What Happened:Tesla has stalled the development of the proposed $25,000 EV, which the Street referred to as Model 2, said Electrek, citing sources familiar with the matter. The report said internally, the project was codenamed NV9.
The report comes close on the heels of CEOElon Musk denying a Reuters report that said the U...
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